I'm not sure. This is weaseling its way up. Test of 1.3350 possible but I think we'll see 1.34. Edit: I'm playing both sides. Waiting for the big "trend" in either direction. The downside of this is getting slowly chipped. But a nice trending move usually makes more than these chips....
....five minutes ago I thought the same thing.....though could it be profit taking.....gold unimpressed...10 yr Tbill off .11...should gold and the Euro be stronger with the Tbill down.....but may I should keep my own council, having no major roll....only position taking after all....might have to eat it after all...
if you change your size on days like this for scalping ? maybe less size or take less profits or cut losses shorter ?
I havent got the nerve to short yet. All my indicators are ripe for a correction. I just have to wait and let the mkt confirm this.
I have a long bias too in terms of a hunch. But I fought myself and shorted since my trend indicator showed short.
Yihaaa! Of course I change my size ... I almost pissed my pants on this one! I normally do incremental averaging on trades - but like now I went half my normal max-size immediately - then tripled that into big-size. Therefore I don't reduce size on scalps - since I increment the trades normally - on a discretionary basis. I do scale out if I have the sense to do so - and not at least the perceived time to do so. I was getting eaten by ants in my pants because of my advice here, and not taking a position myslef. With the sentiment clearly showing itself here I added to my position 3 times all within a range of 2 ticks from the recent top ... I set in an "adaptive stop" - but could bearly watch as 10s of Ks were flying up and down ... it was insane - but I knew I wouldn't take a very tough beating - since my stop was below 1.3380 - and very tight. Then I set my initial target to +20 ticks .. but then sent it further down after adding and seeing the forces in play .. I just got a nice juicy +26 ticks. I only adjusted my stop once - to 1.3365 after it fell to mid 50s to at least be sure of roughly 5 ticks. Phew, I think I will go and clean my pool a little now. What a cliffhanger. Some big players moved on that one. I still think we will see a range below 1.3350 for the end of the day - and possibly a close below 1.3300. I just am shivering and jumpy on this one - very heavy leverage and close to maximum luck with the target ... I guess I could do this professionally - and not recreationally like now - but I will never work for anyone anymore - done it a few times - but I always liked to be my own boss. I guess I can do position-scalping like this whenever the conditions are right ... I thought it would be much slower and needing to adapt the stop a lot - but, hey presto! and with some juggling it jostled it's way to my target. It's only now I feel the pain in my fingers - probably cramped by the tense action and this fast typing.
I used to do the intraday thing to but right now i dont have the time to watch the mkt all day. I seem to do better with my swing trade setups though. I dont get the exact top nor do i catch the bottom but i do manage to capture a nice portion of the move. i must hold to my guns even if i know that i can do some scalping along the way. it is better to stick to your style.